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Show r I , HE! quarters that ratification cornea so late that i Irreparable mlechlef has already been done That European credit has already- suffered profoundly, the present demoralization or exchange ta an eloquent witness. This view, moreover, lays special emphasis on the- - assertion that It would have been far easier to have disposed of securities which may be Issued to set Europe on Its feet In the past six them months than It will be to in the next etx, speculative investment having exploited tbs field which other- - TO (Con tinned From Pag with loans, except so far as may be needed to meet their emergency food reThe almost universal feelquirements. ing here Is that it is up to private agencies. particularly the exporters themselves, to handle the situation. They are the people whose plants must be tun, whose goods must be so'd and whose bills and dividends must alike be paid. T hey are the ones who must be brought to a realization of the gravity of this problem, must go out and seek markets abroad, must reduce prices at horns and abroad to a reasonable level, and create, or loopergte In treating, means of financing export business.'' The Edge bill, recently passed by both tujttRFl brconitrCus and now awaiting the presidents signature, gives them preciseIt provide for the ly that opportunity. federal Incorporation and regulation of firms to engage in international banking and the financing of foreign trade. The bill le based on the Idea that the jiment-do-concept Is out of date, ancr that even the Is not a slogan that will notion bring tne desired result. The plan, is to oigaiuze all industry Interested In developing foreign trade whether farmere, manufacturers, producers or bankers in such a way that European markets for tbelr gaols mav be sustained by the extension of ample credit. On.) bring n International court into exist, ' ence, beginning when h was tn Koot.-ve- lt cabinet. Through the American Society oft Intel national Law lie has urged the project. and It e staled that in the negotiation lit London accompanying the f nlle attempt to organise an international prue court, Mr Boot nearly sruceeded In changing that limited tribunal Into ala leal court (or adjudication o( nearly laeuea that threaten war. The great d'UicuItv m , finding a sathas isfactory plan lor such court always been clalma of entailer nations to representation usual with the great powers, and It was Mr. Hoot who proposed what It was belle ed- - would be a solution, had the whole project not been abandoned Therefore, the persona who are planning to have the managers meet soon in Lon- -. don have felt assured that they could count upon Mr. Root, even without action by hi giverninent upon the tieaty are being extended The Invitations "with the design to give Immediate life, upon promulgation o ( th treaty, to XIV, which leads-JThcouneil shall formulate and submit to the members of the league adoption plans for the establishment of a permanent court of International Justico. The court ahall be competent to hear and dtermne nnv dispute of an International character which the parties thereto eubm't to It. The court may also give u advisory 'opinion upon any dispute or question refen ed to It by tlio cogThsH or by the assembly. it Falling Off Expected. 1 ar-tc- le e Cut Till Out It la Worth Money. Dont Miss This. Cut out this slip, enclose with 3c and mail it to Foley & Co., 2833 hbefficld Ate, ( hicajro. 111., writing your uaniuond address clearly. You will receive tn return a trial package containing Foleys Honey and Tar t'onfponnd, for coughs, eolds and croup; Foley Kidney Pills for pain in sides and back, rheumatism, backache, kidney and bladder ailments, and Foley Cathartic Tablet, a wholesome and thoroughly cleansing cathartic, for constipation, biliousness, headache and Schramm Johnson, sluggish bowels. Adv. Druggists. . - even un Export business, however, tier the most favorable conditions not expected to continue tta present awollen course. Two reasons are advanced for this by officials here. Our enormous export balance must be curtailed, because the present expansion of credit cannot continue, an l when Europes demands are satls'lcd, a falling off le bound to ensue. regards this problem of Washington d to provide credits for credits as and to Europe regulate credit at home Tho latter Is ths function more especially of tho federal receive board. With the treasury out of the market, the neces ally for low and discriminatory gates In order to float the huge government loans no longer factor, ths board plana to exercise this function with greater effec n It tlvenesa during the coming has been able to do during the past year, at least until recently. The board can control the situation, In Its discretion, either bv rationing rredlts or by raising rates The policy of the board will be to continue to bring about a liquidation of unproductive credit, and to restrain expansion. "unnecessary and unhealthful The board seems to be tn a mood to act with determination along these lines. two-fol- ear-tha- -- Peace Treaty Is Problem. Ratification of the peace treaty will help straighten out matters across the seaswThat Js conceded on all sides. The t ths capital is wiTy"question debated St Andrew. H. how much It will help. The rather pessimistic view Is held In some responsible Salt Laier In New York. Bftotial to Tfeo Tribune. NEW YORK. Dec. SI. Frank. Vv wise might have been, fallow. At the same time It ts widely recognized that ratification of the treaty, and consequent removal of many of the uncertainties that Complicate the present situation Is bound to bring great relief. It Will set Europe t work. Each nation Of the two'leilS1 S rlakdInTOlvMn all foreign Investments. the political risk ana the commercial risk, ratification will tend to Temove the former at least, and the consequent release of Incidentally credits la confidently counted upon to relieve the present menacing exchange situation. No Revision Expected. - - PITTSBURG, Pa.. Dec. Ji OIL men were startled today when the principal oil purchasing agency announced another advance In the price of crude oil, Fann"l'V)anla grade being lifted 25, cents barrel to $5. Other price were raised 15 cents barrel as follows: Corning, $3 50; Cabell, 53 42; Somerset, )3.25; Bag-lan1 75 These prices are the highest ever quoted In Pittsburg and apell the third advance within two months. K'e cause was upward movement, other 'ged for the uPPllea are not what high ' lhkn re,wrv In authorities the oil trade believe they j ,hould be, and the steady increase may spur development to s point where pro- duct Ion will be sensibly Increased. Already oil production has become so profitable that old fields In western Pennsylvania are being drilled over, and many wella long since abandoned are being cleaned out, connected up with similar wella and then carefully pumped. d. as-w- in , i WARFIELDS POST nt . Expense Curtailment Sought. While a special congressional committee the budget into final shape, the leaders are proposal commendably turning their attention to cutting down this year's appropriations. The estimates transmitted by the secretary of the treasury, as revised bv Chairman Good but without any apeclal allowance for the railroads reach the fairly staggering total of five and a quarter billion dollars, and show an Increase over last year's appropriations In every single schedule except Pressure of new postoffiee and navy. requests from all sides led Secretary Glass to issue the warning that "there appears to be grave danger that the extraordinary success of the treasury In financing the stupendous waF expenditures may lead to a riot of public after the war, the consequencesexpenditure of which could only be disastrous. It Is earnestly urged that the eongreaa deny every proposal for expenditures In new fields, or the continuance or expansion of oid, unless they represent imperative and unquestioned need Congressional leadera have given Indication. In their speeches at least, that they are a sake to the fact that "the cold gray dawn of the morning orgy ta no tlm to start anew Indulgence In reckless spending They have promised to cut a billion dollars out of the estimates. Vet, sven so, there is plainly no relief In sight for the taxpayer. The taxes mav be shifted and readjusted, like an but they cannot be substantially pack, decreased. The latest developments In the International situation Europe s need for food on credit and the treasury's plans for funding the Interest on her loans for some time to come serve to clinch the proposition. Secretary Glass had already broken the news In hla annual report, saying that "any appreciable reduction In the amount of the revenues fiom taxation It not to b thought of. He recommended, hoaever, the abolition of tha excess profit tax and a compensating Increase of the normal Income tax, and of the lower brackets of the, surtax. Is hammering Coughed Night and Day. John VognueEIberton, Ga., writes: Last fall, when my neighbors were down with influenza, 1 took a severe cold and before I was aware of my condition 1 was down sick m bed. I coughed night and day and my throat was raw and sore. I got a bottle of Foley g Honey and Tar Compound and took eight amall doses in two hours. Mr condition began to improve and In a few duyi I was as well aa ever. In my opinion Foley a is the best rough medicine made. Schramm Johnson, Adv. Druggists. Are you puzzled about what to aend for a NEW YEAR greetingf Stop worrying I time to get your 1920 licenses! Most of you are busy, and a trip to the capitol takes time. Let us save L you the trip. Step in here and file your application and license fee required by the state. We will do the rest. Our facilities are at our y disposal. r Bankers Trust Company arid National Copper Bank ' Opposite the Postoffice.' Campaign Prospect Considered. campaign often has so hiarked and adverse an effect on) the trend of business that It Is striking to note ths number of representative inen In Wash'ngton who are Inclined to doubt Us having any such Influence this year. Were law and order in be toe Issue in the pros19.t), or runical legislation pect, the feeling might be very dif'erent, but such Incidents as the res action of Governor Coolidge Of Massachusetts and the smothering of the Plumo plan In congress low pretty wsll dispelled any doubt on either score. Moreover, many bold that the economic current are so swollen and torrential that the pollthal intake will scarcely muddy them. Responsible official who hav been able to rid themselves of partisan bias are ' saying thst the e ecilon of a reartlonary on the Republican ticket, of a radical on the Democratic ticket, would be equally fraught with danger to the country in the long run What they would like to, see would bd" an administration at once and gifted with a social understanding grounded tn economic principles, set put to accomplish a genuln readjustment along Industrial and economic line. It may prove a YUetld Illusion, but there I a widespread belief at tha capi- tal that tha worst of our Industrial trow-hiare o'er At the earns time, con- House must still gross and tl( Whit tackle such economic problems as the shift in the distribution of whalta and toe dearjh of common labor, such social the L V. W and the sp.rit problems-a- s u h of unrest, Immediately pressing collective bargaining, as the problems open shop, and the Tight to strike must deride, ir case of the Jat named right, If and how it should b limited. when, v 1th manv of these problem til capital Is now dealing Down f the but ding an Industrial confer-enc- e ts going on, about which ths public heart Pttfe. but from which those who have learnel of i's domination by Her-- i bert Hoover expect mb. h. Tne antl- e claviSo In tne Cummin railroad bid recently pass.d by ths senate has brought that controversy to a head, with tne jufp'r bousewithinclined to deal far more drastically utility strike than toe lower hoove. A presidential j es send Flowering Pots Beautiful Cineraria, Chatlin Begonias, Primrose or Cyclamen. Each, will please. Miller Floral Co. 10 Wasatch 1310 and 1828 E. Broadway, Judg Bldg. it'll'-- . LVH its employees very handsomely with a bonus, of a salarv. months . , ATTENTION, JOBBERS! A high-grad- Utah State National Bank OFFICERS Must have good storage .T. GRANT, President. CHARLES W. NIBLEY, Vice President. WILLIAM R. WALLACE, Vice President. IIENRY T. McEAVAN, Vice president and Cashier. ALVIN C. STRONG, Assistant Cashier. SAMUEL H. KEDDINGTON, Assistant Cashier. Ranking perfection under V. LlJ MORE COMPUCATIONS ARE DEVELOPING IN RATIFICATION PLANS PARIS, De 31. Although the supremo couneil today fixed January as the date for signing the protocol and exchanging ratifications of th German peace treaty, complications are developing which It la persona In council cirthought by some cause the postponement cles may again of the ceremony of putting tha treaty Into effect. It has developed that the German technical delegates who are to arrange the multitude of detail connected with th plebiscite to be held In territories which must decide whether they desire to be detached from Germany do not appear to have full power to ait. The signing of ths protocol on January 8, therefore, may depend upon whether the Germans can secure these powers Immediately In order to complete the arrangements which tt Is thought In council circles- - ought to precede the exchange of ratifications. Tha fact that there are 80,000 German troops In upper Silesia, where a plebiscite Is to he held, was brought to th attention of the council, whh h decided that Germany should be Informed that the troops had better be withdrawn. Attention also waa 'ailed to the fact that Hungarian troop continue to occupy a part of western Hungary, which was given to Austria by tha peace treaty. It ts proposed to send a mission of allied officers there to supervise the withdrawal of the troops. The council today agreed upon th reply to be made to ttwitzerland a application for admission to the league of9na-tton- s with reservations The not InSwiss authorities that tha forms th th council regard app1tf'atlonaaa question for the league Itself to pass upon when It is organized. . measure authorizing th purchase of a building In Berlin to house the staffs engaged In supervising the execution of th peace treaty was adopted by the chamher of deputies todar. As the first Installment the sum of one million francs waa appropriated. . 31 A J-2- Z, Tribune. m City. X '' Resolved " . r My next Photograph will be an - .Ivory tone Por- i Happy New Year . Monroe Studios 267 South Main i : jtl'A'lMlViMf iH,'i4: a m M th.f ee I i great pact Mr, Stovall added that if the United I States senate should destroy the peace I treaty by drastic reservations the reaulJF of tne referendum In tfwltseriand on tb league of. nations woulcLbe in doubt A ,, there was strong sent) Pre?n) PPrvaK orx said niinister he planned to sub m'tPf, iMgnation, ,loWpr; Demand Full Independence. ( prtal basis asfMiir;.,:: speedily aa possible because of! CAIRO, Tuesday, Dec. 30,Determlna trU'e ,ddPO,Bb.lhrn.t 'pendenc t'T, States should watch Its foreign markets, of Egypt Is affirmed by members of th ' or foreign powers would hav them in a few years. General Pershing also paid a tribute to tha American Legion. It waa tha last of a series of club dinners and luncheons for th general during hla holiday visit her with members of hi family. Former United States Senator Elmer J, Burkett, who presided, said General Pershing wa with the American doughboys at the front th day th armistice was signed and declared that fighting on that day waa a military necessity, J Nationalist party In reply to a statement. Issued yesterday by Viscount Milner. British secretary of state for the colonics who declared the .commission which to heads wishes to reconcile the aspiratlo Egyptians with the interest of Gren Britain, and expressed a desire for Kg) tlans to express their opinions freely. "Egypt a case Is known to the world and a local Investigation Is unnecessary,' savs the newspaper Issued hy the Nationalist party. It add that Viscount Mil. ner's invitation to Individual to ronfilw with the commissioners is "useless. RATIFICATION WILL NOT AFFECT TRADE WITH THE GERMANS Hoods Pills of Dec. WASHINGTON. Exchange ratifications, of the peace treaty will have no immed.ate effect upon American trade with Germany, It waa said today In official circles. All . restrictions of trad with Germany, except on Imports of dea and coal tar products and exports of wheat, were removed by th war trade board July 14, and so far as the Uinfd States la concerned anything from matches to funs may be shipped to that country. Th rate of exchange Is an obstacl to trade, efflcals said, and a rise tn the value of marks, through stabilisation of conditions In Germany and the production of goods for export, is the only method by which commerce can be restored to normal. In an effort to Improve the disastrous has Imposed exchange rate. Germany rigid Import regulations. It was pointed decrees out. but as executiv changs the at from time to time ths market is left In a state of unoertainty. ragards exports, officials of the elate department and the department of commerce said Germany had no great stocks of goods to sell at this time. Fear that quantities of potash would be dumped In America have not materialised, It was sad. 31. of Utde A six-in- by C. i. Hood J Co, LowiU, Uasa. No Red Tape or' Embarrassing -- Questions Here On Watches, Diamonds, Liberty Bonds, Stamps, Cameras, Guns, etc. WeJ are the leading monoy ,A lenders of the state. STOVALL URGES ACCEPTANCE M In small doses GENTLE LAXATIVE In Larger Doses A. THOROUGH CATHARTIC A Incle Sams Legal OF TREATY-COVENAN- T . 4 LINCOLN Dee. St. General NbM John J. Pershing told members of the Lincoln Knife and Fork club at a dinner Id his honor here today that it was im portent that the Unitt-- States and other nations involved In tha world war re- turn to a peace basis as soon aa possible, The of tha world wera upon the 1 Havas ) InternationPARIS, Dec. 31 alization of Constantinople and the Straita of what wouJdi h$ppn In m outh ami went? JtnpoverWIwient of outh and went wuWi nonn affe t eat. America woifld become a hoUn1 of discontent and resolution Talk about the Monroe doctrine! IN' none knows that Miglnnd coud hase.. averted the world wr if she bad at cepted German s offer to override Monroe doctrine and divide up fcJouUi 1 America. The league of natioim w4Jw I England and Arnerba would be the I strongest guarantee of tho Monroe doe- - I trine Many people believe that if Kn- - P gland were to have free votes in t league of nations America would hay Just that much more strength in ttrtA PERSHING URGES EARLY RETURN TO PEACE CONDITIONS In Bcapa Flow trait." Please write at once, giving Pox full particulars. inspection of Dardanelles has been decided upon along the line Intd down by Premier IJovd George of Great Britain in a recent speech, according to the Matin. It seems certain, the newspaper aays, that tha seat of the Turkish government will to Asia Minor, and be located either at Hrusa or Konleh. Details of the form of international control which will be established over have not become known. Constantinople fllCH-PIC- T PARIS.-Dee- & ...uiiwinHmiiHiniimiinimiuiiUMiiwMniwiim..M JAi fa- able. : IIEBER Manufacturer wants good Salt Lahe connection to cover Utah. cilities and liye sales organization. Cigar jobber accept- Cloclj Corner ll'iirpa FJ t the-personn- Western Candy e Al tha Old The custom in business of giving at Christmas time is a pretty one, far it forges the bond of mutual of an interests a little closer, inspires to endeavor. still institution greater Will Internationalize an 1 & Utah State National Bank, progressive, .awakVto the broader spirit of the times, remembered Howell Pleads Guilty. WEAVER VILLE, Cal., Dee. 31. Jefferson Howell, who nosed aa wealthy mine operator of Salt Lake City, pleaded guilty here today to robbing the Trinity C'suntv bank on November 13 of $18,000, and an indeterminate aentenee of from one year to (Continued From Bag On.) life was pronounced. lng docks, as part of the compensation Osier to Bo Buried Today. for the sinking of ths German war vessels LONDON. tW. SI fter-the-war Its 1 1 (Vis Mi'ntmt. Th of Sir William Oatof, tha sotvd phyalrlas l toUn&dajr, will b morrow from hrlatchtm ta cathedral, Oxford. Tha body will then ba takrs to Goldcra Ureait, where tt will be cremated. ,3I ?hc SEOUIw Korea, Dec. 81 Several independence manifestation by Koreans occurred last night In Seoul, many arrests Is H rumored that a new being made. declaration of Independence has been signed by prominent Koreans. All the officers of the recently formed "Women's Patriotic league hav been taken Into custody by the authorities. It ts alleged that a large number of Korean women, members of this league, hav been engaged in a political Intrigue against the Japanese administration. 414 at Otford. f fore such vast funds charitably diverted to channels of helpfulness to humanity. MORE UNREST IS REPORTED IN KOREA who m On the whole it was a big and prosperous year. Never in the history of business was there such a wide distribution of bonuses at Christmas time; never be- UP Corporal Loses a Hind. DOUGLAS, Ariz., Ilec. 3 . Corporal James Clark lost his left hand today by explosion of a defective bomb while directing a detail of soldiers In clearing the site of the $100,000 ammunition fire of Monday. Billy .Northlngton, a seven- vear old bo, was severely injured when he pi ked up a detonator as a souvenir and struck It with a hatchet. AS; Nineteen hundred and nineteen was a year of thoughtful concern for there were many large. problems to solve and readjust, following thoT signing of the armistice. Some, momentous in scope, remain unsettled. , e. Oh, You Motorists I Strength Service looked for In 1920. To be sure, the ways and means, committee- - of the house has LANE TO SUCCEED gone ahead with all the steps usually IN preliminary to such a revision has called, for Instance, on the United btates tariff commission for the usual data on the! BALTIMORE. Md., Dee. 11. It Is But special Inquiries erally accepted- - her in financial circles schedule among those In control .of tariff leglSla- - ; that Franklin K. Lane, secretary of the tlon In congress lead to the making of Interior, wil1 succeed Edwin Warfield, the above statement. Chairman Fprdney former governor, a president of the Fita reported to he contemplating a conferdelity and Deposit company of Maryence of hfa followers after the recess to land Mr. Warfield resigned about decide Just what course to take. If the month ago. was Lane recent visitor Republicans should by any chance decide Secretary on a general revision, they wpll probably to Baltimore, and while here was a dindo no more than go through the motions. ner guest of Van Lear Black, who repreIn order to put themselves on record for sents a majority of ths stockholders of the Fidelity and Deposit company. He campaign purposes. The capital la watching with a great met several leading financier of the city. deal of interest the way in which high tariff advocates, as already noted, are coming around to a new point ADMITS BURGLARY; qf view. They see their gooda freighting GIVES HIMSELF Into foreign markets, and realize that they must continue those markets tq keep their mills going. Many, of them have Asklng'Toz-Detective Larsen and Patcome to understand and their views are ten, J. K. Dyer, 27 year of age, entered reflected In both houses of congress desk the office at the police sergeants that, as President Wilson pointed out, the at 12 40 oclock this mornsurest way to meet this countrys hugely headquarters himself and gave ing up to the two defavorable balance of trade due to the war. saying "Im a burglar. and at the same time to keep their own tectives, hla pockets approximately took from He plants gulng at full blast, is to permit $100 worth of Jewelry and a watch, Europe, as far as she can, to settle for which he aaid he had stolen from three our exports by shipment of her goods Into different the last two weeks, and this country, that shipment to be facili- gave themhouses to the officers before being tated by a comparatively low tariff. booked on a charge of burglary and Protective Measures Advocated. taken to the city Jail So congress, forgetting schedule K for the moment at least. Is going ahead with Its popguri bills measures giving the nqcessary protection to the new group of born of the war, such Infant Industries as glass, dves, magnesia and the like. Members are giving particular attention to dyestuffa, a bill introduced by Mr. Longworth raising customs rates on coal tar products having already passed the Prom complete dependence on house Germany for dyestuffa before the war thie country jumped, by 1918, to an export alone of $17,000,000 worth. As the president pointed out in hla annual message, there Is a close relation between the manufacture of dyestuffa. on the one hand, and of explosives and poisonoua gases on the other, which has given this Industry an exceptional significance and value from the point of view of preparedneee ae well as that of aggreasiva buslneae policy. With no general tariff revision to worry about, congress seems to have formed the excellent resolution of spending the time thus saved In scrutinizing Its own financial methoris and appropriations, legislation for the establishment of a budget system has plainly a thrust behind It this vear thst It never bad before. The Good bill, setting up a budget bureau in the office of the president, has already passed the house. The senate Is more Inclined to place this responsibility on the secretary of the treasury. Whatever method is ultimately adopted, a reform of the present slipshod appropriating system appears to be assured, with promise of a very wholesome centralising of responsibility and scrutinizing of sxpen-dltur- 3, 1920. OIL PRICES ADVANCE IN PITTSBURG MARKET - Elihu Root to Assist in Inauguration of Supreme Tribunal. f V THE SALT LAKE TRIBUNE. THURSDAY MORNING, JANUARY Rale r NEW TORK. Dec. II Pleasant A. d Stovall, United States minister to arrived here today. He waa accompanied by his wife. Mr. Stovall said th! whole world wss aghast al the hesitation" of the United States on the peso treaty he said, th question Everywhert, IS asked. Wbgt is America going to do Tho welfare and fate of tho world are so dependent upon the formation of a league of nations that the opposition to the Idea tn America appears incomprehensible How can our country atop to split hair when the world is tottering, home organized power la needed, not only to prevent wars, but to defend atid prar4 mote the welfare of tha world, to extend credit, promote commerce and regulate' the world we In protecting exchange Events have are protecting ourselves no such shown that there Is thing as isolation. We tried to keen out of this Tho next on would war. lmpoaslhje' ue ae sure y rhvolv Jut"Look St the buslneae bide, Mr. Stovall continued huppoee Europe wore 01 bale of, unable to lake the 10 cotton and the 2n,(MK,0(Kl bus let's of our wheat, unatne ti pa for them on ir. count of the low ex. flange and t'e te. -- oan Bask Swlts-erlan- 16 E. 2nd SOUTH Happy New Year Get Shoes Shined Ilere, 10c. , Rex Shoe Shine Also Parlor for Ladies, the Largest in Salt Lake. Keith'. Emporium Building,' 243 SOUTH IHAIN. |